USD/CAD - Under 0.9907 To Weaken Further
USD/CAD is now approaching 0.9907. A break under this level will confirm 1.0050 as a lower high, targeting 0.9890 immediately.
We would need to see re-capture of 1.0052 from here to suggest basing potential, with scope then for a push towards minor resistance at 1.0163 and possibly 1.0250 in a more bullish multi-week scenario.
EUR/CAD, which tends to share a positive correlation with EUR/USD, has breached the top of a trading band and now targets broken support at 1.3394 as this year’s recovery extends.